EV startup Fisker Inc. The company is laying off more employees to “preserve cash,” a week after warning investors it had to make cuts to stave off an impending bankruptcy, according to an internal email seen by TechCrunch. will
Founder and CEO Henrik Fisker said in an email to employees Monday morning that the company “continues to evaluate all viable options for our business, including a potential transaction, and we are interested in potential buyers and investments in the business.” are committed to identifying the path to implementation.”
“That said, we must preserve cash to help keep these options available,” he wrote. He had earlier told staff in a meeting last week that the company was still holding meetings with car companies under the NDA, which First reported by Business Insider..
“[I]It is with great personal pain and sadness that I am delivering the difficult news that today we are making further reductions in our workforce,” Fisker wrote in the email.
It is unclear whether Fisker Inc. How many employees is being cut? A spokesman did not immediately respond to a request for comment. Fisker employed 1,135 people as of April 19, according to regulatory filings. It previously announced a 15% decline in February.
The company announced last week that it has hired a chief restructuring officer who is now Fisker Inc. In charge of approving the budget as well as the decision making process for any sale of the business. It reported only $54 million in cash and equivalents as of April 16.
Credit : techcrunch.com